Quarterly ResultMay 7, 2026, 04:31 PM
Nelnet Q1 Net Income $71.1M, EPS $1.97; Declares $0.33 Dividend
AI Summary
Nelnet reported Q1 2026 GAAP net income of $71.1 million ($1.97 per share), a decrease from $82.6 million ($2.26 per share) in Q1 2025. Non-GAAP net income also declined to $69.9 million ($1.94 per share). The company completed its Canadian acquisition, expanding loan servicing, and its Board declared a $0.33 per share quarterly cash dividend. Despite a higher provision for loan losses due to portfolio growth, several segments showed revenue increases.
Key Highlights
- GAAP net income was $71.1 million ($1.97 per share) for Q1 2026, down from $82.6 million ($2.26 per share) in Q1 2025.
- Non-GAAP net income was $69.9 million ($1.94 per share) for Q1 2026, compared to $87.4 million ($2.39 per share) in Q1 2025.
- Nelnet's Board declared a second-quarter cash dividend of $0.33 per share.
- AGM segment net interest income increased to $67.5 million in Q1 2026 from $52.9 million in Q1 2025.
- AGM acquired $3.34 billion of loans in Q1 2026, including $2.85 billion in Pay Later receivables.
- Loan Servicing and Systems revenue rose to $127.8 million in Q1 2026, up from $120.7 million in Q1 2025, due to the NDS Canada acquisition.
- Education Technology Services and Payments revenue increased to $154.4 million in Q1 2026 from $147.3 million in Q1 2025.
- Nelnet Bank's net income after tax grew to $7.1 million in Q1 2026 from $1.5 million in Q1 2025.